Stratos Wealth Partners LTD. Boosts Position in Illinois Tool Works Inc. (NYSE:ITW)

Stratos Wealth Partners LTD. lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,220 shares of the industrial products company’s stock after purchasing an additional 543 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Illinois Tool Works were worth $6,648,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $28,000. True Wealth Design LLC increased its stake in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Illinois Tool Works in the third quarter valued at $32,000. Ulland Investment Advisors LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $33,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works during the 3rd quarter worth about $35,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of research analyst reports. Robert W. Baird increased their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Wells Fargo & Company dropped their target price on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Barclays dropped their price objective on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Finally, Stifel Nicolaus reduced their price objective on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $272.67.

Illinois Tool Works Trading Down 0.1 %

NYSE:ITW opened at $254.40 on Thursday. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The stock’s 50 day simple moving average is $261.20 and its 200-day simple moving average is $257.14. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The firm has a market cap of $75.12 billion, a P/E ratio of 22.01, a PEG ratio of 3.61 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.14 EPS for the current year.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.